Operating Principal definition

Operating Principal means the designated individual responsible for the day-to-day operation of the Restaurant. We must approve the Operating Principal and the Operating Principal must successfully complete our initial training program and all mandatory follow-up training programs. The Operating Principal must be a Principal Owner.
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Operating Principal means the individual whose role is defined in Section 14.5 and who is identified in Exhibit B.
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Operating Principal means the person designated by you and approved by us as meeting our qualifications who is responsible for overseeing the day-to-day operation of your business.
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Examples of Operating Principal in a sentence

  • Principal covenant that during the term of this Agreement (except as otherwise approved in writing by Licensor) Developer and Operating Principal (and any approved designee for Operating Principal) shall devote their full time, energy and best efforts to the management and operation of the development activities contemplated under this Agreement.

  • If Developer is an individual, Developer shall perform all obligations of Operating Principal.

  • During the term of this Agreement, Franchisee and the Operating Principal shall devote their best efforts to the development, management and operation of the Franchised Restaurant.

  • The Operating Principal as of the date of this Agreement is identified in Appendix D.

  • If Franchisee is owned by more than one individual, Franchisee shall designate and retain an individual to serve as the Operating Principal.


More Definitions of Operating Principal

Operating Principal means , or another individual hereafter designated by Franchisee, and accepted by Franchisor (and until subsequently disapproved by Franchisor), to serve as the authorized representative of Franchisee, who shall hold 10% or more of the Equity of Franchisee, and who shall have the authority to act on behalf of Franchisee during the Term.
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Operating Principal means an equity owner of FRANCHISEE who will manage the Franchised Business and who is authorized to act for FRANCHISEE and communicate with FRANCHISOR in relation to the Franchised Business.
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Operating Principal means , or such other individual hereafter designated by Franchisee, and accepted by Company (and until subsequently disapproved by Company), to serve as the authorized representative of Franchisee, who Franchisee acknowledges and agrees shall act as Franchisee’s representative, who shall hold 10% or more of the Equity of Franchisee, and who shall have the authority to act on behalf of Franchisee during the Term.
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Operating Principal means a natural person who: (i) owns directly or indirectly
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Operating Principal in relation to a company, means any:
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Operating Principal means , or such other individual hereafter designated by Franchisee, and accepted by Franchisor (and until subsequently disapproved by Franchisor), to serve as the authorized representative of Franchisee, who Franchisee acknowledges and agrees shall act as Franchisee’s representative, who shall hold 10% or more of the Equity of Franchisee, and who shall have the authority to act on behalf of Franchisee during the Term.
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Operating Principal means, you if you are an individual, or another person that has at least a 10% ownership Interest in the Business Entity that owns and/or operates the Franchised Business, and which you designate as having the responsibility of operating and/or managing the Franchised Business.
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